India, March 13 -- The Mumbai Metropolitan Region (MMR) witnessed a surge in land acquisitions in 2024, with developers securing approximately 407 acres across 19 transactions-the highest in the last three years. This uptick is part of a broader nationwide trend, where land acquisitions soared by 41% from the previous year's 288.9 acres, (SEE BOX) according to a report by global real estate consultancy JLL India released on Wednesday.

The most significant deals in MMR included large single-plot acquisitions of 50 acres or more in emerging micro-markets like Khalapur, Palghar, and Khopoli. Alongside the increased volume of transactions, the per-acre cost of land in the region also climbed sharply, rising from approximately Rs.11 crore in ...